News Details

World Economic Forum (Mumbai) to focus on AI, IoT & other new tech

The World Economic Forum said it is setting up a multi-million-dollar centre near here to help the larger society benefit from industrial revolution 4.0 technologies including IoT, blockchain, AI amon

This is the second such centre which the global non-profit is setting up after one in San Francisco, its chief operating officer for USA, Sarita Nayyar, said to ET.

The WEF signed a memorandum of understanding (MoU) with the government of Maharashtra to set up the centre in the satellite city of Navi Mumbai. Chief minister Devendra Fadnavis said Industrial revolution 4.0 has the power to revolutionise the way things are, and it is essential for states to embrace it at the earliest. The centre will focus on technologies including artificial intelligence, blockchain and internet of things, to help find solutions for societal problems.

Nayyar said WEF will play a facilitator in the process, by getting all the key stakeholders together, with a special focus on the startups. The startups will be allowed access to the best of technologies to find solutions for current problems, she said.

Initially, the centre will start with drone-based solutions for the agricultural sector where the machines will be used for soil conditions and guiding farmers with inputs like when to sow, Maharashtra IT secretary S V R Srinivas said to the English Daily.